Free Trade Agreement Negotiations: Australia

James Davies Excerpts

Thursday 17th June 2021 Commons Chamber

[Elizabeth Truss]

I disagree with the hon. Gentleman’s characterisation of ISDS. The fact is that those clauses are in trade agreements, and we already have more than 60 ISDS clauses in various investment agreements to protect British businesses from unfair actions by overseas countries, such as the appropriation of property. Furthermore, the UK has never ever lost an ISDS case, because we are a country that follows the rules and implements our laws and regulations in a fair way. In any case, there is not an ISDS clause in the Australia trade deal.

[Dr James Davies (Vale of Clwyd) (Con) [V]]

The Snowdonia Cheese Company, which is based in Rhyl but also has footprints in Deeside and Wrexham, is expanding 20% to 30% per annum and is a north Walian success story, combining milk from local farmers with brand Britain to rapidly expand its sales overseas. Australia is a key market for Snowdonia cheese, and, with tariffs lifted, the company stands to do even better. Will my right hon. Friend visit Rhyl to celebrate with the company its enthusiasm for a UK-Australia trade deal?

[Elizabeth Truss]

This deal is great for UK cheese companies. There is currently an 11% tariff on products such as Snowdonia cheese, which will be removed as part of this deal. I would be delighted to visit the company and celebrate its success. This is what we want to see. Currently, only one in five of our food and drink companies exports. There are huge opportunities overseas and we need to see more and follow the lead of the Snowdonia Cheese Company.